Analyst raises SNDK target by 76% to 3,000 after an 800% year-to-date gain, citing further upside potential.
Bernstein analyst Mark Newman raised his price target on Sandisk (SNDK) to 3,000 from 1,700, maintaining an outperform rating. The adjustment follows an 800% surge in SNDK stock this year, driven by a broader rally in memory-chip equities.
Prior to the revision, the stock had already outperformed sector peers, with the new target implying additional upside. The Nasdaq and Dow Jones indices showed modest gains in early trading, while SNDK climbed further amid the analyst upgrade.
No immediate market reaction details were provided beyond the stock’s intraday advance.